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Gold Trade | Gold (XAU/USD) Weekly Outlook 13th – 16th Oct I Learn Elliott wave labeling I Forex Trading

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Gold Commerce | Gold (XAU/USD) Weekly Outlook thirteenth – sixteenth Oct I Study Elliott wave labeling I Foreign exchange Buying and selling


On Weekly Body :

1st Motive wave: $1050 – $1073 through the 1st motive wave tiny 5 waves is developed which may see on a decrease timeframe. for the readability, we’re not going within the decrease body.

2nd wave correction: Deep correction of 1st wave round Fibonacci 61.8% is unfolded. 2nd wave correction offers us clue for the 4th wave shallow correction round 23.6 or 38.2% as the foundations of alternation of Elliott.

third Motive wave: $ 1160 – $ 2075. third wave unfolded as Fibonacci 261.8% of the first wave, which is taken into account as an prolonged wave so the fifth wave could also be regular.

4th Correction wave: Shallow 23.6% correction In order that 4th wave accomplished @ 1848 and the brand new fifth impulse wave began.

New fifth Motive wave, ( anticipated 1848 – 2450)

1st Subwave of the Motive fifth wave as,
Wave (I) is 1848 – 1920
Correction (II) 1920-1875
Wave III : Anticipated 1875 – 1990

Key Factors:
Each day Updates on MIN/HOURLY/DAILY Timeframes

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